U.S. Oil & Gas Producers Rise On Turmoil In Europe

U.S. oil and gas explorers held up relatively well despite the market's sell-off Monday.

The 105-stock Oil & Gas-U.S. Exploration & Production industry group was up most of the day before ending down a fraction. It was among the day's better performers.

Several stocks in the group hit new highs as oil prices jumped to almost $105 a barrel on tension between Ukraine and Russia, a major supplier of oil and natural gas. Read more in the International Leaders column on B10.

EOG Resources (EOG), which produces mainly natural gas in Texas and elsewhere, hit a new high before ending down a fraction. It's just above a 188.40 buy point of a cup-without-handle base.

The stock's 96 Composite Rating ranks second in the oil producers group, which on Monday ranked No. 61 out of the 197 industries tracked by IBD. That's up from No. 133 six weeks ago.

EOG's earnings growth has slowed for two straight quarters, from an 81% increase in Q2 2013 to gains of 34% and 24% in Q3 and Q4, respectively. Sales growth has ranged from 20% to 32% in the past four quarters.

It boasts an Accumulation/Distribution Rating of A-, indicating strong demand for the shares.

Concho Resources (CXO) rose 1% to a new high. It briefly cleared a 122.91 buy point from a cup-without-handle base before paring the gain. The stock has risen for five straight weeks. And while profit growth slowed sharply last quarter to just 1%, earnings are seen rising 22% this year and 25% in 2015.

Whiting Petroleum (WLL), a major producer of oil in the Bakken shale region in North Dakota and the Permian Basin in West Texas, also rose 1%, approaching a 70.67 cup-without-handle entry. Other highly rated stocks in the group include recent IPOs Diamondback Energy (FANG) and Athlon Energy (ATHL).

U.S. oil and gas explorers held up relatively well despite the market's sell-off Monday.

The 105-stock Oil & Gas-U.S. Exploration & Production industry group was up most of the day before ending down a fraction. It was among the day's better performers.

Several stocks in the group hit new highs as oil prices jumped to almost $105 a barrel on tension between Ukraine and Russia, a major supplier of oil and natural gas. Read more in the International Leaders column on B10.

EOG Resources (EOG), which produces mainly natural gas in Texas and elsewhere, hit a new high before ending down a fraction. It's just above a 188.40 buy point of a cup-without-handle base.

The stock's 96 Composite Rating ranks second in the oil producers group, which on Monday ranked No. 61 out of the 197 industries tracked by IBD. That's up from No. 133 six weeks ago.

EOG's earnings growth has slowed for two straight quarters, from an 81% increase in Q2 2013 to gains of 34% and 24% in Q3 and Q4, respectively. Sales growth has ranged from 20% to 32% in the past four quarters.

It boasts an Accumulation/Distribution Rating of A-, indicating strong demand for the shares.

Concho Resources (CXO) rose 1% to a new high. It briefly cleared a 122.91 buy point from a cup-without-handle base before paring the gain. The stock has risen for five straight weeks. And while profit growth slowed sharply last quarter to just 1%, earnings are seen rising 22% this year and 25% in 2015.

Whiting Petroleum (WLL), a major producer of oil in the Bakken shale region in North Dakota and the Permian Basin in West Texas, also rose 1%, approaching a 70.67 cup-without-handle entry. Other highly rated stocks in the group include recent IPOs Diamondback Energy (FANG) and Athlon Energy (ATHL).

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